Published: May 5, 2013
Bahrain-based telco secures US$650mn in first trip to international market.
Batelco Group, a telecoms company headquartered in Bahrain, has raised US$650mn in its first bond issuance.
The company issued the seven-year paper to pay for its acquisition of Cable & Wireless's Monaco & Islands business units.
The bonds carry a yield of 4.342% and attracted a US$4.8bn order book from 255 accounts. Citi and BNP Paribas acted as bookrunners. The bonds have been rated BBB- by Standard & Poor's and Fitch.